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Inventories
9 Months Ended
Sep. 30, 2024
Inventories [Abstract]  
Inventories
5.Inventories

 

Inventories as of December 31, 2023 and September 30, 2024 consisted of the following:

 

   December 31,   September 30, 
   2023   2024 
Raw materials  $3,779,414   $3,240,516 
Work in progress   9,525,568    4,596,060 
Finished goods   20,108,440    16,102,349 
   $33,413,422   $23,938,925 

 

During the three months ended September 30, 2023 and 2024, write-downs of obsolete inventories to lower of cost or net realizable value of $499,300 and $1,371,328, respectively, were charged to cost of revenues.

 

During the nine months ended September 30, 2023 and 2024, write-downs of obsolete inventories to lower of cost or net realizable value of $2,074,233 and $3,364,889, respectively, were charged to cost of revenues.